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Article 14 Verdrag tot oprichting van de Bank voor Economische Samenwerking en Ontwikkeling in het Midden-Oosten en Noord-Afrika

FINANCIAL OPERATIONS

a) The Bank shall carry out its activities in accordance with sound banking and business policies and prudent financial management practices with a view to maintaining under all circumstances its ability to meet its financial obligations.

b) In providing or guaranteeing financing, the Bank shall pay due regard to the prospect that the borrower and its guarantor, if any, will be in a position to meet their obligations under the financing contract.

c) Before the Bank makes or issues a loan, guarantee or equity investment, the President shall have presented to the Board of Directors a written report regarding the proposal, together with recommendations, on the basis of a staff study. The Board of Directors shall decide on such proposals in accordance with the rules of procedure it adopts.

d) Where the recipient of loans or guarantees of loans is not itself a member, but is an instrumentality of a member or members, the Bank may require the member or members concerned, or a public agency of such member or members acceptable to the Bank, to guarantee the repayment of the principal and the payment of interest and other fees and charges on the loan in accordance with the terms thereof.

Regeling
Verdrag tot oprichting van de Bank voor Economische Samenwerking en Ontwikkeling in het Midden-Oosten en Noord-Afrika
Soort
Verdrag
Geldend vanaf
28-08-1996
BWB-id
BWBV0004742
Versie
1996-08-28_0

In de hele regeling · Officiële tekst op wetten.overheid.nl